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Facebook rumoured to buy Waze for US$1bn

Facebook looks set to flaunt its cash by picking up the social-centric mapping company Waze. But can it help you find true friends?

09 May 2013/11:33BST

New leaks suggest that Facebook is planning to splash out a billion dollars on social mapping company Waze, creating flashbacks of its Intstagram purchase for the same amount last year.

TechCrunch reports that the deal is currently being held up by negotiations over where Israeli company Waze will be based, though we'd expect it to settle in Facebook's native country if the deal goes through.